Electricity prices to rise 5% in June

Use less air-conditioner says Electricity Authority spokesperson

The June electricity bill will be 5% more expensive than in the previous month said today EAC spokesperson Christina Papadopoulou.

The electricity authority spokesperson said that the increase comes following the upward trend of oil prices.

Papadopoulou explained that the oil supply used to generate power in the first months of the year was purchased at a lower rate and that current oil supplies were purchased at a higher price. The additional cost will now be passed down to customers.

Speaking on local radio this morning the EAC spokesperson urged customers to use air conditioners less frequently and recommended higher temperature settings in order to consume less electricity.

The Electricity Authority of Cyprus, a state monopoly, has frequently come under criticism for failing to diversify its energy supply.

Over-reliance on fossil fuels and its cumbersome decision making processes have led Cyprus to record the highest increase of electricity prices in the EU.